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Medical Robotic Systems Market is expected to grow at a CAGR of 13.5% Over the Forecast Period 2012 To 2020: Hexa Research Inc.

Posted onOctober 8, 2015

Medical robotic systems market is expected to grow over the forecast period owing to the increasing technological advancement in computerized surgical technologies such as bacteriobots or telemedicine for treating fatal cancer.

The other growth drivers of this market are growing incidences of lifestyle induced diseases such as obesity & diabetes, sophisticated healthcare infrastructure, increasing population and awareness. These factors are expected to drive the market over the forecast period. Medical robotics is used in various surgeries and surgeons operate it with the help of computer. Medical robotic systems include small tools with robotic hands. Demand of medical robotic systems market is spurred due to rising penetration rate of IT.

Healthcare industry has witnessed paradigm shift due to which demand for medical robots has risen. It emphases more towards minimally invasive surgeries, these are now more preferred than normal surgeries, as it has many advantages attached to it, such as less risk of bleeding and infection, shorter duration of stay at hospital, shorter recovery duration, and scars length is short. The main objective of medical robotic systems is to reducing chances of occurring error while surgery and minimizing the workload of doctors.

Geriatric population are more prone towards disorders such as neurological, & orthopedics, technological advancement such as imaging system, software/applications and capsule robot system. Minimally invasive surgical procedures use video guidance procedures for conducting surgeries, such as Da Vinci System. As per the recent report published by FDA, U.S., says that in case of multiple types of operations Da Vinci system is most beneficial procedure. As of 2012, more than 85% of prostatectomies are performed with the help of Da Vinci system. The market has a huge opportunity over the forecast period due to the technological advancement, cost & time effective procedure, and favorable reimbursement policies.

Geographically, the Medical robotic systems market is studied by segmenting the market into North America, Europe, Asia Pacific and RoW. North America is dominating the whole market due to high per capita healthcare expenditure, availability high market penetration rate, sophisticated healthcare infrastructure, rising disposable income, various government or NGO’s initiatives, and increasing geriatric population. The growing economies in Asia Pacific such as India and China region are expected to witness lucrative growth during the forecast period due to the rising healthcare expenditure, increasing number of hospitals, adoption of medical robotic systems and awareness about the medical robotic devices. Asia Pacific region is expected to grow at a CAGR of 13.5% over the forecast period.

Hexa Research Inc. is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.